Employers have an unhealthy obsession with employee retention that can cloud their judgement hindering them from making decisions that would improve the success of their business. Society is changing and although employee retention is important and should be a focus within the workplace, it’s vital to know when it’s time to welcome change.
Ali Uren, founder and director of Kiikstart, has worked with over 80 different organisations, and 2000 plus leaders to help them revitalise their business and adopt new ways of thinking that allow them to keep up with the ever changing business landscape. She continues to work with individuals and businesses to help them take their work into the modern era using personalised learning and self-made credible content. With successful client outcomes in excess of 90%, Ali has helped many businesses to grow and prosper.
Ali shares five reasons why it’s time for you to adopt a new perspective on employee retention.
- Valuing employee retention is not helpful.
There are many metrics that can be used to measure the success of a business and its staff. Employee retention rate is a metric often chosen to demonstrate the success of a businesses workplace, however it is not portraying if the employee’s are actively developing their skills. Instead of measuring employee retention rates, employers should use metrics that demonstrate if their staff have achieved the roles KPI’s and undergone professional development. Plus the impact of that development on the business, team, client and community longer term.
- Start co-designing metrics with staff.
Staff and management should work together to co-design the metrics used to portray past and potential achievement. These should be qualitative as well as quantitative questions that can be reviewed each three, six and twelve months. Some examples include;
- What does great look like in your role in the next six to 12 months – be specific about what you are delivering and how?
- How will you measure your impact in your role – what evidence are you looking for to know you are on track and delivering valuable outcomes?
- How do you assess your own performance to determine whether the role, or business, is still a great fit?
- Start talking about the future.
Instead of being left dumbfounded when an employee decides it’s time to move on, you should prioritise talking openly about the future. Employee’s should feel comfortable discussing their future plans with you, whether that means staying at the business or moving on. Not only does this make the process much less awkward, it helps both parties be prepared for what’s to come.
- Developing staff is an investment not a cost.
The most common misconception among management teams is that retention is needed to save costs associated with training new staff. It is an investment when you hire someone new, however the increase in motivation and productivity that your business will experience will make the investment worthwhile. It is also vital to review your end to end employee experience from induction to exiting to explore and rectify any inefficiencies.
Come from a learning and development perspective – not one of only HR.
- No relationship should last forever.
It is unrealistic to expect any professional relationship to be infinite. Professional relationships are founded upon the mutual benefit received. It is important to have the self-assurance as a leader to recognise when a relationship is no longer beneficial and understand that it is time to move on.
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